Country study (China) Case Example | Topics and Well Written Essays - 750 words

Country (China) - Case Study Example..6 1. Executive Summary Victory State rim is a banking makeup located in the United States of America in New York. Having expanded considerably, the institution has decided to set up a peeled shop in China in rewrite expand its market and attract new customers. Therefore, the report examines different factors that go out have to be considered in order to establish the viability of the area. The report volition also examine the specific details that leave behind be considered while entering the verdant 2. Introduction A number of factors need to be examined by an constitution when it decides to venture a new market. This will especially be when the organization is venturing anew country altogether. contrary opening a shop in the same country, opening in a different country might require the organization to change approximately factors in its setting. In this case, factors that will be examined entangle the mode of entry, the human res ources, and the marketing and distribution strategies. Generally, these are factors that will affect the overall operation of the saucily opened shop. 3. Recommendations on how to enter the country 3.0Mode of entry The mode of entry that should be applied is the exportation mode. Exporting the run to the China people will attract them much easier and quicker. In addition, this is a cheap mode of entry since it involves very few expenses and costs. Exporting mode of entry is usually known to attract customers easily because the products or services have been brought closer to the customers location and thus, customers can easily access the services or products (Sun,H., & University of Sydney, 1996). Therefore, this is a method that will require fewer advertisements and promotions as compared to the importing method. However, the method will have a disadvantage of competition. Victory State Bank will have to face inflexible competition from the banks that have already been establis hed in China. 3.1 Human Resources Victory State Bank will have to employ more staff members that can converse in Chinese fluently (Bailey, 2007). These will help in improving the mode of communication with the new customers. The selected management for the new branch will also have to be made of persons that are fully conversant with the culture and the political environs of the country. Thus, they will know how to solve matters concerning licensing and establishment fees. The organization might also have to employ some people from its country of origin instead of employing all its employees from China (Sun,H., & University of Sydney, 1996). This will enable the organization to take a shit employment in the country thus, creating a positive image for itself. Therefore, the mode of staffing used will chiefly be geocentric, because while some crucial services require employees from the home country, others will use employees from the new country. The payment will still be constant since cases of increases in payments might lead to increased expenses. However, the organization will have to ensure effective training of the employees in order to ensure quality services. 3.2 merchandising The target market of the organization will be mainly business entities dealing with large sums of money, because they convey banking services highly (Beckwith,1997). However, the organization will also target private individuals that demand banking